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IRS Provides Tax Relief to Rhode Island Storm Victims

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. The relief includes extensions for various tax payment and filing deadlines. 2023 quarterly estimated income tax payments normally due on Jan.

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IRS Provides Tax Relief to Rhode Island Storm Victims

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. The relief includes extensions for various tax payment and filing deadlines. 2023 quarterly estimated income tax payments normally due on Jan.

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IRS Tax Relief for Taxpayers Impacted by Severe Storms in Rhode Island

Withum

Affected taxpayers qualifying for this tax relief include individuals and householders who reside or have a business in Providence County. The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments.

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April 15 is Tax Deadline for 2024, But Some Taxpayers in These States Will Get More Time

CPA Practice

Kiplinger Consumer News Service Tax Day 2024 is April 15. That’s the day taxes are due for most taxpayers. However, each year, the IRS extends tax deadlines for taxpayers in designated areas impacted by severe storms and natural disasters. The IRS announces these tax deadline extensions for various states as disasters occur.

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Refunds and your sales tax compliance

TaxConnex

You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? And the state or local sales tax you also charged on the purchase?

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March 1 Tax Deadline Nears for Many Farmers, Fisherman

CPA Practice

Businesses with income from farming or fishing that have not paid all of their 2023 tax year estimated taxes by Jan. 16 must file their tax returns and pay their entire tax due on or before March 1. Only those taxpayers that have paid their estimated tax payments by Jan. See Topic no.

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IRS Says State Issued Stimulus Payments are Not Taxable

CPA Practice

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.